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Elliotwavecount

ENDING DIAGONAL SIGNALS BEARISH REVERSAL ON USDJPYUSDJPY has just completed a five-wave bullish Elliot Wave impulse move with ending diagonal pattern in wave (v). According to the theory, a three-wave pullback in the opposite direction follows every impulse move. In USDJPY's case, the impulsive breakout of the ending diagonal trendline signals the completion of the impulse and the start of the correction. Price has the potential to retrace 50% of the previous impulse move, a possible 1:2 RR trade setup. Thanks for reading!
Short
by Veejahbee
2
Bitcoin Correction Ahead Before Big Bullish WaveBitcoin have formed 5 waves up which signal that we have started a new direction in trend which is a bullish one. However I do expect a big correction to the downside to form a wave 2 before the big bullish wave continue. We are approaching a very strong supply/resistance area on the chart between $11,500-$13,500. Once the bearish correction start I can see it going all the way down to $5.800-$8,500 to complete a wave 2. After the completion of wave 2 I will look for Bitcoin to head higher to create new highs above $20,000
COINBASE:BTCUSD
by JjohnsonBeGreat
EURNZD Is Drawing a Pattern That Should Scare the BullsThe Daily chart reveals something that should make the bulls feel uncomfortable. It shows that EURNZD’s massive decline from October 2018 high at 1.79337 to December 2018 low at 1.63279 took the shape of a textbook five-wave impulse. The pattern is labeled 1-2-3-4-5. EURNZD Bears Remain in Control According to the theory, the impulses point in the direction of the larger sequence, and a three-wave recovery in the opposite direction follows every impulse pattern. This means that once the corresponding A-B-C expanding flat correction in wave (B) is over, another decline in wave (C) can be expected. The resistance area around 61.8% Fibonacci level and the blue box zone is where a bearish reversal is likely to occur. However, even if the bulls manage to lift the price of EURNZD higher, the bearish outlook remains valid as long as the high/starting point of wave (A) at 1.79337 is intact. If this count is correct, traders should not put too much trust in EURNZD bulls right now and start to take profit in the blue box, especially given that wave (C)’s targets lie below wave (A) low at 1.63279. Did you like this analysis? Kindly let me know in the comment.
Short
by Veejahbee
8
EURO (EURUSD) STRONG LONG Wave 3 nextSometimes it is best not to overthink things. The descending wedge on the EURO ( FX:EURUSD ) has been clearly broken to the upside. A new uptrend has begun. Rises are in 5 waves and drops are in 3 waves. This is a classic Elliot wave definition of a new trend direction. Keep it simple. Primary wave 2 and secondary wave 2 of wave 3 UP have now tested the long-term descending wedge's upper trend line and twice it has held and drops below it have been rejected. See two red circles on the chart. Wave 3 of 3 will likely be triggered by anticipation of the Fed lowering interest rates at the end of this month. Cheers! Cyrus
Long
by cyrusgr8